Daily Pivots: (S1) 1.3384; (P) 1.3431; (R1) 1.3505; More….
Break of 1.3474 resistance should confirm short term bottoming at 1.3261. Also, corrective fall from 1.3704 should have completed too. Intraday bias is back on the upside. Firm break of 1.3519 will pave the way to retest 1.3704 high. Nevertheless, break of 1.3356 minor support will dampen this bullish case and turn intraday bias neutral again.
In the bigger picture, as long as 1.3222 cluster support (38.2% retracement of 1.2005 to 1.3976 at 1.3223) holds, larger up trend from 1.2005 (2021 low) is still expected to resume through 1.3976 high at a later stage. However, firm break of 1.3222/3 will indicate that the trend might have reversed. Deeper fall would be seen to next cluster support at 1.2726 (61.8% retracement at 1.2758).
